Binance Seeks Another EU Route After Greece MiCA Setback
Binance said it will seek authorization in another EU country as regulators warned unauthorized firms must wind down activities after the deadline.
- On Wednesday, Binance withdrew its Markets in Crypto-Assets license application in Greece and announced plans to seek authorization in another European Union country.
- Regulators in Greece, Ireland, and Latvia reportedly questioned Binance's corporate structure and past money-laundering penalties, complicating the bid ahead of the July 1 deadline.
- Binance remains a significant European venue, handling up to $600 million in daily euro-pair volume and holding an 18.5% market share, behind Kraken's 43.3% share.
- The European Securities and Markets Authority warned on Tuesday that crypto firms remaining unauthorized by July 1 must take 'immediate' steps to wind down their EU activities.
- Gillian Lynch, Binance's head of Europe and the United Kingdom, said 'Binance is not leaving Europe,' expressing confidence the exchange will secure a license in the coming months.
43 Articles
43 Articles
The world's largest cryptocurrency trading platform, Binance, also used by crypto investors in Romania, announced, Thursday, in a press release sent to StartupCafe, that it withdrew its EU licence application submitted in Greece under the European MiCA regulation, warning that some of the users might be affected.
The 300 million customer platform around the world has withdrawn its request for a European Mica accreditation in Greece, which it was about to be refused.
Binance Halts Push for Greek Crypto License
Binance would pursue alternatives in the EU. Credit: Jorge Franganillo / Wikimedia Commons CC BY 2.0 Binance, the world’s largest cryptocurrency exchange, announced on Wednesday that it withdrew MiCA application in Greece and pursue authorization in another EU Member State. MiCA, which stands for Markets in Crypto-Assets, is a comprehensive set of regulations introduced by the European Union (EU) to govern the crypto industry. Binance manages ap…
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